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You have just received a windfall from an investment you made in a friend's business. She will be paying you $47,872 at the end of
You have just received a windfall from an investment you made in a friend's business. She will be paying you $47,872 at the end of this year,$95,744 at the end of next year, and $143,616 at the end of the year after that (three years from today). The interest rate is 10.3% per year.
a. What is the present value of your windfall?
b. What is the future value of your windfall in three years (on the date of the last payment)?
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